a national consulting and marketing firm that develops and designs management and preservation strategies for individuals and families of exceptional wealth. We have completed over 180 estate and income tax design plans.
I met one of their Principals, Randy Fox, at the Advisors in Philanthropy Conference last year and am glad to see a link here from InKnowvision's blog. What they do is to provide estate and income tax designs for other financial advisors. There is a side of charitable planning for wealthy clients that requires putting the gift in the context of the donor's overall financial situation. That is the kind of work for which InKnovision provides analytics to professional advisors for that advisor's client.
Randy, please do join the conversation either via comments here or on the InKnowvision blog. Your perspective would be very valuable in helping others see another element in the "philanthropic landscape." Many in this field, who work for nonprofits or foundations, see giving as writing a big check. In your work, you know that for first generation money, the biggest asset is often a closely held business, farm or ranch, or land. In other words, the client's assets are not liquid and sometimes not easily marketable. Planning for a major gift or legacy gift for such a cash poor, wealthy client has to involve advisors who shift the asset structure around with an eye to income needs, income tax, asset allocation, risk management, liquidity, amount and timing of a gift, best asset to gift, best vehicle for gift, and the estate tax implications of each option considered. Unless advisors are brought in by such clients as allies and partners, the optimal gifts will not happen. How to create more productive partnerships among advisors, holders of large illiquid wealth, and nonprofits is a topic of great interest to me. Perhaps you can lend your perspective, Randy, based on having worked with so many fact-patterns over the years.